2013-01-07
2013-01-15
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industry. i was just wondering if you would talk a little bit about the environment and environmental issues. here in this country whenever we talk about new exploration, we're also talking about environmental implications, and we hear about disasters here. we don't really hear much about them in russian -- russia, though i'm sure they exist and can be quite massive. so i wondered if you'd just talk about that a bit. >> well, here we come to the guilty part of the guilty love. because i'm as conscious as everyone else that we are, in a sense, too clever for our own good. by the way, one of the unfortunate consequences of this bonanza that we are, that we have just, that we are now harvesting is that we are headed in all likelihood for an era of quite possibly cheaper hydrocarbons, and certainly very abundant hydrocarbons. that thing which is so easy for us which is to climb this our car and head to the nearest gas station is something that's going to get easier and easier and easier for the next generation. and this is very bad news for the environment, there's no question about that.

haven't followed the mayor wanted name, but if you look at labor, the environment playing out that way, a variety of social and cultural issues is always, importantly health care you mentioned is always the same coalition for certain stability there and a huge overlap and that's a terrific thing. >> is this interesting paper we see as part of the larger process of reallocation between state and federal government. how much leeway to see up on that administration have? i don't find very -- that would be fine if you had 2 million dvd agents is better than we do have, but how much room does the lord gave you? >> i think what all their shows as federalism is alive and well is the real of 60 kind of wandered the concepts in our country for obvious reasons, but even that term now is coming to be embraced by newer generation of something positive because you see controversial issues as you identified the address of the state level. that's a good thing happening here. it's easy when you're middle-aged man like me to brood about. the rule of law, what are we going to do? but we've had a lot of

to encouraging stewardship of the environment, land conservation, watershed protection and eliminating harmful chemicals. additional funding provid by: the colcom fndation. the wallace genetic foundation and by the charles a. frueauff foundation. >> this week on "to the contrary" first, women and minorities are missing in obama's inner circle. then, women are binge drinking more. behind the headlines: the country's newest female governor: new hampshire's maggie hassan. >> hello, i'm bonnie erbe. welcome to "to the contrary," a discussion of news and social trends from diverse perspectives. up first, cabinet concerns. president obama is catching flak for his first few cabinet nominations for his second term -- that for leaving out women and persons of color, especially after women voters secured his victory in last fall's election. although president obama wanted to nominate susan rice as secretary of state to replace hillary clinton, so far he's appointed men to head up the departments of state, treasury, and defense. and the high-profile position of cia director also went to a male. long time

. for the environment. there's no question about that. fortunately in russia they don't have an environment. at least they have frequently behaviored as though they didn't have an environment. and certainly the oil industry has never meant particular -- been particularly concerned about the environment. i remember in the 1990s talking to the minister of the environmental science. he happened to be briefly also the ministry of agreology. i met him in the huge office. there were maps that showed radio active tam contamination. he was interesting. and id asked him about the environment. he said we don't have one. we can't afford one. it was very much the story of the 1990s. the signature of the russian hydrocarbon industry is very brief. it's absolutely conventional up to this point. and their investment in renewable and unconventionals is at this point. [inaudible] with one big exception in the nuclear power. they consider that to be a virtuous renewable. as for solar, well, the agency in charge of solar-power development is coordinated to the nuclear power agency which is tells you something. and so o

the challenges of the uncertainty they will be facing as soldiers in a counterterrorism environment. it shows this environment they are facing is not precise and orally. the leader they have to be is empfide by the stampede and the circumstances are frequently confusing. the rain is blowing sideways, there is dark and ominous clouds and seems like it's gretting barely brighter as he goes forward. some of the parts of the organization are way ahead and some may or may not catch up. and you have a lightning bolt that is going off that you have to confront. well on behalf of the people up at west point, i want to tell you it's been our pleasure and honor to be able to teach the cadets that are there that are understanding more and more of what they have to confront with regard to terrorism and terrorists and they are up to that task. last summer my son happened to be graduating with the class of 2012. the class of 2012 picked for their class motto for more than ourselves. i think that that reflects the generation of young men and young women that are coming to the military academy at west point

attention to the environment. people are very environment conscious and i see community aggregations also to have renewable energy. it makes me very happy because in italy we have been following this path for a very long time. for example in the first six months of this year we installed photovoltaic panels larger than the united states all put together. it shows you the extent of the revolution happening. i am sure italian companies will be happy to work with the local institutions that have started to generate projects that will somehow go in that direction, and also we want to have parties and communication activities to show the people in the street that it is important to have sustainable behaviors and not to leave a carbon footprint behind us. >> [inaudible] >> yeah, if i understand correctly because -- you said about the innovation -- if we? >> [inaudible] >> yeah, okay. well, we're going to have in the museum of computer science in mountain view an exhibition show casing what italians have done to create silicon valley. i mentioned one person but there are many other example

2008 and she has been in congress for jobs and our environment and she been such a great champion of public transportation that even cal train named a loco motor after jackie spear. please welcome congress woman jackie spear. >> thank you mr. mayor. thank you secretary lahood. thank you to the incredible leadership, senator feinstein, nancy pelosi and mayor lee and the board of supervisors to chairman nol an from the sfmta. i am on pins and needles. do we have anything else to report? it's still at the same point we think they're in commercials. i am reminded from the song from "top gun" "take my breath away" and $942 million takes my breath away and i think to mayor lee for that amount i think we should get a leather flight jacket to thank mr. lahood for the great gift to our great city. the new money that is going to be used here is going to create 1,000 new jobs before the end of the year with many more jobs to come after that. that is something to applaud. thank you again secretary lahood for that. this is one point 7 miles very similar to the length of the golden ga

's about if you are immediately engaged in the work environment together, it's allowing for more opportunities selling someone to take on a new project or allowing someone to maybe how could i say flesh out ideas and actually put them in place and then learned from that because not everything is going to be perfect. but knowing that even if it doesn't come out right someone is going to say it's okay. it's okay. we are we to work on getting a better. i think that's where he learned the most about leadership and about how to conduct perfect but it is you want to do. men do it with men and with women, too to read these relationships are always down for women and we shouldn't be ashamed of that. >> we ask you what you were watching when you were 17 that would have made this a little bit easier and you said keep striving. never lose heart. it's not about how much time you get knocked down but it's about how many times you get back up and it's what you do after you get back up and brush yourself off that really matters. i just wondered if there was any specific time you could talk abou

industry. together we put in place a stronger environment in which the private sector can create good paying jobs, and virginia is now outperforming its neighboring states. we have also worked hard together to get our fiscal house in order. three years ago, together we closed a budget shortfall of $6 billion without raising taxes. the results were good. we have had three consecutive budget surpluses totaling $1.40 billion. we more than doubled the rainy day fund. we gave two 3% performance bonuses to our great state employees. we have maintained virginia aaa bond rating while the federal government was losing theirs. we bolstered agency efficiency. we eliminated and consolidated dozens of boards and commissions and agencies and programs to save money. we set priorities and cut spending. in the last three years, i have recommended and you have accepted cuts and reallocations of spending of more than a billion dollars, and i thank you for that. we have made government live within its means. we put the most defunding into transportation since 1986 and stayed within zero or five%, self-im

afghanistan will have the right environment for conducting elections without interference and without undue concern. we also discussed in a bit of detail and in the environment that we have all aspects of the bilateral security agreement between afghanistan and the united states, and i informed the president that the afghan people already have given their approval to this relationship and value it as one that is good for afghanistan. in that context, the bilateral security agreement is one that the afghan people approve, and i am sure we will conduct it in detail where both the interests of the united states and the interests of afghanistan will be kept in mind. we had a number of other issues also to talk about during our conversations, and perhaps many times in that conversation, beginning with the composition of, of course. i thanked the president for the help that the united states has given to the afghan people for all that we have gained in the past 10 years and that those gains will be kept by any standard while we're working for peace and stability in afghanistan, including concern

2.5% or so, these companies have figured out how to make money in a slow growth environment so combined with that, 4%, 5% earnings growth, that's reasonable in the kind of environment that we're in right now. >> no great shakes in terms of earnings growth. >> no. >> but good enough is what you're saying. >> that's right. i think it's good enough. >> what's priced into the market though? i mean, we've got expectations that we'll see much higher prof materialize or what? >> you know, really i think the market, you know, the p.e. ratio, if you look at valuations as far as that metric goes, i mean, the market is not willing to take the pes very high, may inch higher, 14, 14.5 or so, by the end of next year. the market knows we're in a slow growth environment. we're not going to get strong gdp, and it's not willing to assign much of a pe to these earnings. that's going to be a continuation, but next year i think investor confidence is going to improve a little. it's really lagged in this rally, so i think we're just going to be able to inch it up enough to where we have a decent yea

for years in the economy, and even our environment. as increased use of natural gas has reduced co2 emissions in the united states in 1992 levels. since 1990, the industry has invested more than $252 billion in improving the environmental performance of our products, our facilities, and our operations. between 2000-2010, the amount of industry investment for technologies to reduce greenhouse gases was $71 billion. compare that to the $43 billion spent by the federal government over that same time. compared to all other industries combined, which were just slightly larger than what our industry invested. u.s. refiners have invested more than $137 billion since 1990 in technologies to produce even cleaner fuels and meet the growing variety of state and federal mandates. it complete transitions compared to gasoline is estimated to have resulted in the reduction of tailpipe emissions by cars and light duty trucks, the equivalent of taking 164 million cars off the road. and through increased efficiency, we are doing much more with less. america uses about half as much energy today to pro

out space. it's so much easier to shut down a shop than it is in this environment. the colorado version of the law makes the law enforcement side of this much more challenging. >> and so the next thing that they could do is simply repeal it. and say if you're going to crack down on our regulatory system, we'll legalize without a regulatory system, then do what you can. >> you might notice that some of the initial ones were rebellious by nature. i think marijuana users describe themselves -- some of them have a distaste for it being legal because they're now abiding with the law. if what there is is a very aggressive response you're going to tap in their rebellious spirit. >> we're seeing a breakdown of a federal relationship. michael will give us a broader context than what we're seeing. >> there is a sort of tempting federalism prospect on this which sees something along the following lines. and angela alluded to this. look, the resurgence of american federalism because states have preferences here. there's no reason. let's experiment. i don't think that's necessarily wrong. bu

and how to give actionable advice requires knowing, and i would argue working in, environments that require close cooperation. that is why our job is not to wait for legal questions to be brought to us or to provide advice on operational decisions after those decisions have been made. our job is to be present at the beginning and throughout the process. just like other senior national security official across the government, the person in my seat, since the creation of nsd, has attended the morning terrorism threat briefing along with the attorney-general and the director of the fbi. just like the analysts and special agents who are working these issues, we aim to stay on top of the threat picture and to help devise tactics and strategies and tools for getting ahead of it. today its standard -- it is standard procedure for agents conducting counterterrorism investigations to consult throughout the process with attorneys and prosecutors in the national security division. that is to ensure that all potential avenues for destruction of a threat, intelligence gathering, investigati

business. the combination of policies that are not hostile to business and an environment which actually welcomes new businesses and new jobs is working. it is clear. in a competitive world, policies matter. companies have choices. job-creators have choices. that is why our work is far from done. that is why a top priority must be to continue new jersey's record of excellence in education and to fix problems where we are failing. in higher education, the task force led with skill by former governor tom kean has helped us develop strategies for making new jersey's institutions more competitive. we need to turn new jersey's universities -- including rutgers -- from good to great, because that will help us keep more talented new jersey students in new jersey and will strengthen the link between higher education and high quality jobs. at the heart of these reforms we need, of course, is the plan to make sure that new jersey's critically important medical and health sciences institutions remain world class. by merging rutgers and umdnj in the north and rowan and umdnj's stratford campus in th

. where do you see this going? you talk about ticket prices going up a minimum 10%. in this environment it could go up more than that, couldn't it? >> absolutely. no question about it. the reality is if we don't have the seats out there, what is left will be exceeded by the demand and that means it going to go up. the other challenge, we have the regional unquote airlines. you have to pay probably three quarters of a million dollars to get trained just to get the privilege of riding as a copilot and living in newark and getting paid $30,000 a year. that doesn't encourage a lot of new entrants. >> neil: i guess not. michael boyd on all things flying or in this case not flying. i think abe lincoln just turned in his grave. nancy pelosi now using an amendment he all but inspired to bury us all. i'm william devane. ♪ i wish my patients could see what i see. ♪ that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup inheir arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise

-- the environment is not good for outgoing epa chief lisa jackson. we'll explain. first, uncertain future as well for the next big thing in commercial aviation. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watcng. introducing the 2013 lexus ls. an entirely new pursuit. >> bret: wildfires in australia top international news. it's summer down under and fighting fires there are difficult. 95 are burning in new south wales with 18 out of control. new rights for women in saudi arabia. king granted women 30 seats on the top advisory council for the first time. a big step in a country where women's lives are heavily restricted. women are not allowed to travel, work, marry or even be admitted to a public hospital without pe

patronage. that environment created an atmosphere as well in which the islamic opposition could take greater root and was, essentially, you know, became more or and more vir you lent. there were a number of events which because of our lack of understanding of what was going on in libya would in retrospect signal a, you know, to people who were watching this that things were not going well in libya, that essentially the people were getting increasingly frustrated with gadhafi and had the potential to be, to explode. you have the -- another seminal event was the pass kerr in -- massacre in 1996 in which 1250 people were killed. this was by gadhafi's head of -- under the supervision allegedly of gadhafi's head of internal intelligence. this was very important because the victims of that massacre were primarily political prisoners and from the eastern part of the country. and the east, you know, in a very tightly-knit tribal society an act of that magnitude basically created a cascading resentment which came to haunt gadhafi, basically. this was -- that was a major event in creating resentment a

of discussion feels dead on arrival in this political environment where we can't get something like a basic budget done. >> the problem is we're going to have to do some of this, anyway. anyone who owns a home knows this. if you defer maintenance, if you say to yourself, my boiler is leaking but i'm not going to fix it, that's actually a penny wise, pound-foolish decision. it will eventually break and cost you three times as much. that's what's happening with our roads, bridges and highways. if you look at air travel. we have one of the world's most antiquated travel systems, we need to update the antiquated computer system. one day you're going to have terrible problems or you're going to have a kind of the system will break down, it's not going to cost $25 billion. it will cost $50 billion. >> there's another thing we don't talk about enough. we're talking about spending as if there's this generally irresponsible spending around. some of that might be true. the bigger issue is nilements, the growth in what those are going to cost us over time. that's the real threat. it's the one that is

fourchlg the taliban, to try to reshape the environment there, and to try to maneuver the various players in the region towards negotiated outcome because there was no military outcome. that seems not to have gone well. in the absence of that, what is the strategic course? the strategic course is now to minimize american vulnerability in these areas. not walk afrom afghanistan, as has happened in the past. try to give afghanistan some choices, but for security and to try to get away from what i think is the free riding problem where president obama is free riding on security, and not moving governments forward to get other stake holding in the rest of the country. i think the president has moved that security blanket in part to change the dynamic in the region. he is also committed to rebalancing attention on asia, and he is taking military forces out should they be needed for iran and other matters. this is a very shrewd, smart move that i think the wlous is making. >> now, what we're seeing here, as well, is that they -- we just -- we're told that there's a two-minute warning. they do n

economic environment. it's not just about the u.s. any more. it's a very global marketplace we need to remain competitive. the rankings show we are slipping behind a little bit. we are still topping the world still a top ten but it's a struggling environment for us right now. >> barely top 10. sandra smith, fox business networks. 25 after the hour. still to come obama care was supposed to cut costs for healthcare to all. now we are finding another hidden fee that insurance companies will be charging you to pay for someone else. plus a teacher is told to remove a ronald reagan quote from her classroom because it could be offensive to her students. we will explain. first on this day in history in 1954 joe dimaggio marries marilyn monroe. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >> he could no

. economic growth is far from robust. another big problem is the low interest rate environment. >> essentially the challenge is the spread between what they can pay for deposits and what they can earn on loans because of these very low interest rates is compressed. that makes earning money difficult. >> reporter: that said, some argue it's a good time to buy bank stocks because valuations are still relatively cheap. at 11.2, the financial sector has the lowest price to earnings ratio of any group, based on projected 2013 earnings. jim sinegal isn't impressed. >> there's good reason banks should trade at lower multiple than other sectors. there's a lot of risk there. a lot of leverage and banks aren't going to be as profitable going forward as they were in the past. >> reporter: investors will be watching friday for more hints about the health of the sector. that's when wells fargo will become the first of the big banks to release fourth quarter numbers. erika miller, "n.b.r.," new york. >> tom: still ahead, tonight's "word on the street," electronics. how semiconductor giant in

are two of his "ten predictions" for 2013. >> so the key, susie, is we're in an environment where stocks continue to climb walls of worry, and the economy continues to muddle through, not similar to last year. last year the economy some days okay, some days not so okay, and the stock market kept climbing that wall of worry. last year stocks were up 16%, s&p 500, and we only need about half that to achieve a new all-time high. i think we'll get there. >> susie: bob, how do markets go higher when the individual investor is out of the picture, so fearful of investing in stocks. do we see the return of the individual this year? >> i wish i could say we're going to see that, susie. but the individuals who own a lot of bonds first need to see bonds going down in price to be willing to sell them to buy stocks. i think we hit a new all-time high without much participation by the individual. it is the corporation itself that has the big burially since the become oof 09. >> susie: you believe the emerging markets are going to do better than the u.s. so should investors focus outside the u.s.? >> i

of russia being their sole supplier. in this environment, subsidizing wind and solar makes no sense. also five years ago, we thought that china and india, and other emerging economies, my sign-on to emissions reductions, and, therefore, that if we reduced emissions, perhaps global temperatures would be reduced. and i don't think it does but i don't tak take a position on whr mandated emissions caused global warming or not, but if we are reducing our emissions and china and india, which make up 37% of the worlds population, are not doing so, when i pointed any affect on the global temperatures. and then the first chapter of the book i talk about geoengineering solutions, that nobel prize-winning weiner thinks we can reduce global temperature if we just do it on our own. painting russ whitehurst like the sun's rays. what we are doing with a 12 and dollars were spent on alternative energy is pushing people into cars that they don't want to buy, we are raising electricity costs. we are -- we're getting rid of incandescent lightbulbs in favor of fluorescent lightbulbs. and the cost of this fal

environment? >> i will say the film most like the political environment nowadays, of all of the ones that came out whether they were nominated or not was paranormal 4. because it is weird and just keeps happening over and over again. >> jennifer: i think it totally is listen kohn because people put him on a pedestal that stuck to his guns. and he did stick to his guns but he had to roll up his sleeves and do some of the horse trading that had to be done to get the horse trade done. >> yes the issue was not black and white, and there were so many things behind the scenes someone willing to flog through the mud in order to have the ends justify the means, and always along the way tell some pretty hilarious stories. >> stephanie: yeah for sure. so what is the best film that you would recommending of all of these for political junkies? what had you on the edge of your seat? >> it's tough because of the films that were nominated this year, a lot of them we knew what happened in the end. lincoln, you know they end up passing the 14th amendment. we know -- if you read

detrimental to the environment, so i think we should continue to wean our self off of that source and look into more environmentally friendly sources. >> there's no easy answer. drilling for oil can result in environmental disasters like the one recently in the gulf of mexico. and burning coal can add pollution to our air. while no one can guarantee that nuclear power plants can be completely safe, most experts agree plants can be designed to be safer than they are today. >> we see them all the time, but very few of us look closely, so here's this week's "flag facts." >> it's home to the oldest european settlement in north america -- st. augustine. it's where our rockets boldly launch into the final frontier. and if you prefer to boldly go a bit closer to earth, it's the nation's top destination for amusement parks. >> florida. >> florida. >> florida. >> like many state flags, florida features the state seal in the center. it used to be over a white background, but around 1900, the governor asked for the red cross to be added. he thought the mostly white flag suggested surrender. florida's

justice. but if we can't have environments where students feel comfortable attending school, being comfortable with themselves and in themselves in a school environment we will never have students that are predicated in a way to be able to learn. we have to have safe schools. so what we did this year, when all of our administrators came back from summer break, every administrator from principals to the purchasing manager, everyone saw bully this year. and we spent a full year with our bifl department of student, family and community resources, we spent a full day debriefing that movie and going through a process where we talked about it and it was amazing to see grown adults having these realizations about what bullying meant to them and having a commitment from every administrator in our district that we will not allow that to happen this year and that will be one of the focus areas this year. so the ability to have these children now watch the movie as well was extremely moving to us yesterday. i just have to share one anecdote from that movie. we had a question and answer ses

a healthy safe and inclusive environment for all school students, the role of our federal government. tom perez, assistant secretary for civil rights, ruslyn lee. she was also nominated by president obama to serve in her role as assistant secretary of education for civil rights and she was confirmed by the senate in may of 2009. as assistant secretary, ruslyn is assistant secretary arnie's duncan's primary advisor. before she joined the department of education she was vice president of the education trust in washington, dc and was the founding executive of education trust west in oakland. in these positions she advocated for public school students in california, focusing on achievement and opportunity gaps, improving can urriculum and instructional quality and ensuring quality education for everybody. she served as an advisor on education issues on a number of private ipbs institutions, she is a teacher, a lawyer, and a very influential voice on all policy matters. she was also passionate about ending this issue of bullying and bringing everyone together to stop this disturbing tre

are two of his "ten predictions" for 2013. >> so the key, susie is we're in an environment where stocks continue to climb walls of worry, and the economy continues to muddle through, not similar to last year. last year the economy some days okay some days not so okay, and the stock market kept climbing that wall of worry. last year stocks were up 16%, s&p 500, and we only need about half that to achieve a new all-time high. i think we'll get there. >> susie: bob how do markets go higher when the individual investor is out of the picture so fearful of investing in stocks. do we see the return of the individual this year? >> i wish i could say we're going to see that susie. but the individuals who own a lot of bonds first need to see bonds going down in price to be willing to sell them to buy stocks. i think we hit a new all-time high without much participation by the individual. it is the corporation itself that has the big burially since the become ofof 09. >> susie: you believe the emerging markets are going to do better than the u.s. so should investors focus outside the u.s.? >> i th

, a has been is missing but with children, have protection concerns in a can't environment or in an urban environment. and so we will look at that population and want to identify those, those people. sometimes people with medical conditions, they can't be treated in a camp. and makes them again more vulnerable and we will look at those populations. so it's kind of a broad array of vulnerabilities that we try to assess. >> ms. strack and, therefore, could you identify, we're talking about those who are eligible for consideration. there has been an identification of an emphasis on those who have participated in assisting the united states efforts either in the military intelligence, otherwise, nongovernment organizations have been put themselves into some peril. what is the distinction between those who are humanitarian versus those who have performed to the benefit of our interests and are therefore being given consideration because of the exposure that may result from that service? >> i would say the programs working in several ways to address both humanitarian concerns and those who work

presentations. we tend to work in rural areas comes i'm happy to hear about urban environment and what's going on. two questions for lives. i have recently chose to the ghostly the ghostly causa schemata was interesting is how communities are popping up across the street. somewhat ironic that are in fact there's no services out there. i'm wondering in the long term from its landing% is, communities, huge communities in areas with little resources, what is the long-term plan for these communities that do also include sort of the dwellers to vent hopes for what they want to be living. that's the first question. to bring services to them for help relocate again and how does that work? the second question -- i was sort of in knowing how you got to where you got to. i feel it in the spaghetti or is so often the government is not interested in addressing because there's so many entrenched and powerful interests. so i'm interested in knowing more about how you saw that movie forward. >> i'll answer your second question first because it's a little easier, which is included around the table with the pe

need predictable and their regulatory environment. the federal government shouldn't pick the winners and losers, or subject energy projects to endless and duplicative views -- reduce. such roadblocks have stymied vital products, like the keystone pipeline, and that must be built. we shouldn't stop epa's -- we should -- shouldn't have said it that way. it's getting wound up a little bit. we should stop epa's senseless and ideologically driven battle to ban the production and the use of coal. and we should continue with the next generations of nuclear power plants, and we should waste no time in pursuing research that develop alternative sources such as wind, solar, geothermal, and deficiency. that is where we have led the world. by fully embracing america's energy opportunity, we can accelerate growth, create millions of new jobs, free ourselves from less than stable global suppliers and create huge new revenues for government, which will help reduce our budget deficit. we also have an extraordinary opportunity to create growth and jobs through expansion of trade and investment and to

jointly. >> precisely. >> that kind of discussion feels dead on arrival in this political environment where we can't even get a budget done. >> and the problem is we're going to have to do some of this anyway. anyone who owns a home knows this. if you differ maintenance, my boiler is leaking but i'm not going to fix it, that's penny-wise but pound pool foolish. the whole thing will break and cost you three times the amount. air travel. we have one of the world's most antiquated air traffic systems. we need to update the computers. it's $25 billion. we're not spending that money because as you say spending is is a dirty word. but one day you're going to have terrible problems or you're going to have -- the system will break down. then it's not going to cost $25 billion. it will cost $50 billion. >> another thing we don't talk about enough. we're talking about spending as if there's this generally irresponsible spending. the bigger issue is entitlements, the growth in what those are going to cost us over time. that's the real threat, the one hardest to deal with because it's stuff peopl

think they represent necessarily the average parent who i think would prefer an environment where their child wasn't exposed to that kind of risk. >> vice president biden of course is working really hard at this and is meeting with a lot of groups. and speaking of federal law, would you be more comfortable if this was a federal law that would make it so that public schools could not have teachers who were armed or do you believe that should be up to the local districts? >> i think this needs to be a national consensus. i think we need a federal law on that. i don't -- i don't believe that -- if you create anomalous environments where those things are available, you have too much bleed thru, i think we need to have consistency across this. parents should feel comfortable regardless of where they live. >> rhonda, has there been any student reaction to this? what is their takeaway knowing the teachers in their schools may be secretly armed? >> well, i mean, you used the word "secretly." but we do have, as was mentioned, the law in the entire state of utah. and the bottom line is we a

environment so attractive and really few alternatives. is it really a function of the global economy, or is it more a function of this money that needs to find a place to go and u.s. equities seems to be best looking game in town? >> well, you know, i do think it's a lill bit of the latter. when you start looking at the velocity of the money, not trying to get too into the financial jargon, but we do have an issue where people are still seeking out safe money. however, if you look at growth of bank lending, commercial bank lending, what we call a credit growth, it's above 6% right now, so we do have banking and financial organizations wanting to lend money, and as they do that, that's going to create the capital to give those fundamentals that we sort of have forgotten about, but there's no denying that when the federal reserve is printing 85 billion a month it will have an effect. keep in mind, still looking at 8%, 10%, s&p corporate earnings growth. let's not get into an argument about top line growth. >> you're talking about the fourth quarter, 8% to 10% in the fourth quarter? >>

in the state of the union to work together. we have tried to create an environment where we would be able to work on things that have historically been challenging, but i think we need to do both. >> i think i am out of time. >> we will get the clock fixed. >> thank you for your service, mr. chairman. i want to draw attention to the last time you came before this committee. it was an unusual time were you did not just talk about a balanced budget, but as you referenced, you working with president clinton and this conference -- and this congress produced a balanced budget, something that no other president before or since has done in decades. our republican colleagues, when they took over instead of building on that success, they squandered that success. they never met a tax break that they did not like and they believed in the alchemy that those tax breaks would not for pay for themselves. that in addition to the tax breaks that they advanced, they advanced one increase in spending after another, increasing spending at an incredible rate without wanting to pay for it. after eight years of

for the women to be heard. it's an old boy's network and some describe it as a hostile work environment toward women, that the president does some business and bonding at his basketball games which are all male and there's a way that you could sort of set yourself up to be arm's length from the top women in the white house, to when you get to the big decision making moment, oh, i just don't know any top qualified women. >> well, i think one of the challenges he has, you have to look at him, the father of two minority women, and in the case of even my own family, my father, while he makes great, you know, tries to try to include more women he's naturally in most cases gravitates toward men, the same way i gravitate towards other women talking about challenges in my life. and that's one of the challenges that corporations and law firms are looking at heavily, how do we address this in a way that men and women are comfortable relying on each other. book to pipeline, hillary clinton did raise a daughter and did so with a lot of help around and a lot of women going into the senior roles are having

the time. >> let's talk about this. the president wants a legacy of environment, gun laws, energy, is he going to get this or trapped in this debate over budgets and taxes and spending cuts? >> the budget, tax and spending, not so much on the tax but when history looks at what happened in the deal on the fiscal cliff, a lot of positives there. the 99% of the people get permanent tax cuts. that is a big deal if you're president of the united states. or even in congress. 1% 0 going to pay more. i would say certainly that's the right policy. so maybe it's not so bad. the problem is that the process was like this permanent divorce court. and you just could not unravel in any meaningful way what's going on, what's going to happen and so you have the brigade of biden and mitch commonly coming in -- mitch mcconnell coming in at the last minute. >> zpwhr and is it in everyone's interests to get something done, the republicans need a legacy to reshape their image or just committed to try to block the president, gloria, at all costs? >> i think they're going to be blocking. and look, the tax issue

mentioned, the things america needs to do to stay competitive in this challenging economic environment, domestically and globally? >> absolutely. first, you've got to get through the fiscal issues. balance in the deficit and budgets, number one. and then we need to get to tax reform. it is a big deal. there has not been a major renovation to the tax code since 1986, and that is before the internet. immigration is a big deal. getting the kids in school today studying the sciences and technology and engineering and the math to stay in this country and getting a path to his citizenship and dealing with the competencies' to grow jobs. if you can deal with those issues, we would be off to a great start. >> you have many of your clients in the manufacturing business. looking at the broader economic shift, what do you do in a post- manufacturing world to provide the numbers of jobs that america needs? because it does not appear clear yet. >> we have roughly 12 million jobs through the great recession lost. we have filled about half of those. it will still take some more between five-seven yea

the case be made for all women in a college environment? you have been the president of such a school. >> one of the things people think is a single sex school is all women. we have some male professors. the tilt is female, but we have male professors. they are not sitting in a convent. you have other school that are close by. so, none of these children or young people are being koiserred. it's an important point to make. a lot of them think they are going to be. however, i think there are lots of benefits. there are some disadvantages. there are 4,000 plus colleges in the united states. 4,000. you have clernlg colleges for african-american. 45 women's colleges. you have one founded for jewish people, why not variety? i didn't go to a single sex school. a lot of women who are achievers didn't. some want to make that choice. they want to learn and be focused. they want to have the opportunity to learn without the distraction of young men in the room and they are being prepared to go into a world with all the tools that make them unintimidated by men. they have learned how to argument.

environment for the people of haiti, and the government has the instruments available, the tools available to it to make a goal of regional planning. these instruments, the national center, supported by funds from the european union and others for regional planning, which, again, you contribute to with your funds. i wish to thank you for this contribution. let me say that our administration will use these funds to the hilt. in the longer time frame, so we can leave our fingerprints on the haitian area. as you can see in this area, this is on the front of those helping us. europe is at the forefront, able to continue to inspire everyone, and as the world realizes, they cannot go it alone. it has to be in the regions, the larger regions, so we can find a single voice, so we can give each other mutual support while maintaining identity. the caribbean region and the island's large and small, without any exclusion, will emerge one day as a genuine union of independent states and will drive the full benefits conferred upon it due to its strategic position. this is the price to pay for stability

competitive environment from which to go out and compete around the world and win. host: one thing we heard leading up to discussions late last year is that some type of certainty was needed from decisions made. did the people you represent find the guest: certainty there is some of it. much is to be done because long- term overhang is still serious. nobody believes that our current spending course is sustainable. we have made promises that cannot be paid for. maybe not tomorrow or five years from now, but down the road changes need to be made. you're seeing this at the state level where governors and in both parties and legislative bodies are coming together. watch illinois right now, they are struggling with their pension debt, but at the national level we have not had the success yet that some of the states of had. host: looking at spending federally, what has to be guest::the first quarter this year is one that debate will take place. you have the debt ceiling, a continuing resolution. at the end of march, the year is half over. did you have sequestration mandated. those are all intertw

have faced, but they stand for our triumphs as well. despite a skeptical and hostile environment, we survived. starting in the 80s with just 25 students started as the first chinese public school opened in san francisco in 1985. as i remember, i remember the quote, which would you teach chinese to them? i try to recall that and to what my colleague said has grown from a small pocket of multi-ethnic students to a student body comprised of many diverse socioeconomic backgrounds. i try to recall how hard we fought, administrator and parents and students and teachers alike. and what we each sacrificed to be be where -- to be where we are today. today i am humbled by my students who excel in two languages and our students are asked to demonstrate their chinese skills. today our graduates go to beijing, china to build bridges using their skills. today educators can answer the question, why teach chinese to them? by simply responding, why not. i share this very prestigious bell award proudly with my students and my staff. because they are the ones helping me make my dream come true every s

exposed to the virus from that environment. they will go in and use the typical cleaning agents and make sure they wipe down all l of the areas. >> and abc2 news working for you tonight trying to help you fight the flu. there are some simple things that you can do to survive the flu. first, stayhydrated. drink at least eight glasses of water a day. stayaway from tea and coffee and alcoholic beverages. coughmedicine and cough drops can give a little temporary relief from coughing and sore throats, and moms favorite make it is list, chicken soup. it can help clear congestion. and lastly,make sure you get plenty of rest. rest will help you build up your immune system again and give your body some time to heal. >> if you didn't get all of that down, don't worry it's aulg on our website along with many other resources including your link to the natural ways to boost your imunit and also a map tracking the outbreak. you canfind it online at abc2 news/flu. >> tonight the ravens are packing up preparing for their flight to denver. today theywere out on the field for their last home practice b

to be in this environment? what kind of year do you expect it to be? >> we don't have price on the dow, but we continue to look at more domestic-facing companies and industries, so consumer finance are big parts of both portfolios. we think housing continues to improve, consumer continues to delever, monetary policy remains supportive, so stock-pickers, we own redwood trust, which is a mortgage reit investment jumbo. we own carmax. they invented the used car superstore, lots of growth left there. and then a final stock would be ko colfax, which we do a great job as the vascular system for the global economy. they build large fluid systems for petrochemical companies, energy companies, as the economy comes in, as industrial production comes back, they're well positioned. so, we're pretty constructive on the asset class, particularly because a lot of people don't seem to be all that constructive on the asset class. >> steve sax, what about you? where are you seeing the flow? what are investors particularly grav stating towards these days? >> it's till equities and all of last year, credential the first c

, the best way to do that in this environment may be simply to buy another company. hence, the huge spike in m and a activity in the fourth quarter. i think it's big. this trend continues in 2013, if you ask me. but i don't want just to seek more deals. i want them tb the right deals. buy, buy, buy. so for all of the lonely is ceos who i'm sure are sitting on the rooftops saying. ♪ match maker make me a match ♪ find me a match make me a pefr fekt match so you can say, make me a rich man to a very plaintive tune. the hottest steam out there, a steaming hot steam, housing. these two combined, business will be an absolute powerhouse. i'm talking about masco and fortune brands home and security. two makers of cabinets, plumbing fixtures and housing-related products. masco is a large commodity to home depot and i should point out that any deal to acquire fortune brands would have to be done later in the year because of ar kind tax deal. that's the caveat. still, the timing. we are now witnessing a fabulous housing rebound. something i've been talking about a lot lately because it's incredi

enough people. and how do we get them in an environment in which nobody wants to serve and we have a hard time making national security decisions about what to do and make them honestly and intelligently. we've had a pretty lousy record of making intelligent decisions about national security in the last few years. >> i just think it's fascinating that we're now in a position where we need to be transitioning from being a military that is making all of its decisions about dwell time and how much time you got between deployments and who is going to deploy where and when to instead thinking about a mill they're is not at war, that needs to decide what its strength is going to be, its training requirements, its weapons systems are going to be. and the last time we did this really is after vietnam and we've got all these vietnam guys. >> you're absolutely right. if you talk to a guy like marty dempsey, chairman of the joint chiefs of staff, and you get him against the corner and we're inside the cone of silence and he'll tell you honestly what he believes, he will tell you that one of the majo

care, but economics, education, climate change, the environment. i think you see a lot of different opinions and thoughts and ideas of how to get sun and how we find compromise in the united states senate. >> host: how did that play out in the number of leadership roles in congress? >> guest: is a great place to be. we have a new number and then in the senate serving as chairs of committees. in fact, senator barbara mikulski is the first woman to serve as the chair of the powerful appropriations committee and how that would change dynamics of the committee will see in the years to come. dianne feinstein in charge of intelligence. barbara boxer, more and more. patty murray goes through the list on budgets. and on the high side, we now have seven women ranking on major committees in the house. i should remind you that the house republicans a course in the majority have zero win in sharing any major committees. in fact, they are all white and cherry age or communities that have one women sharing a minor committee and that happens to be the administration committee. so we feel we are in

assessments that might take against the various environments that the secretary mentioned. and we're engaged -- i've told you, we're engaged in planning to develop options against alternative futures. alternative future one collaboration or permissiveness all of which would have different requirements. >> you talk now possibility of training rebels -- >> i haven't heard that. that's not a request we've head. i don't know if they would have don't that request through some other channel. [inaudible] >> we're not working on options that involve boots on on the ground with, you know, i think you have to keep the possibility that if there is a peaceful transition and international organizations get involved they might ask for tax in that situation. but in a hostile situation, we're not planning for that. >> back to general dempsey, i asked whether there was militarily anything there was the u.s. could do to stop the assad regime from using chemical weapons. >> the act of preventing the use of chemical weapons wash almost unachievable, jennifer, you have to have such clarity of intelligence, you k

, these are women who have either come out of this environment, out of an urban center in particular. we have our own struggles in the rural parts of america. we need to bring these things to the discussion. that is what we need to do. i do not think we will find solutions to the questions that the caller had until we get those people living with the struggles of the table. that means more women, more african-americans, more hispanics, more men and women of color. i feel strongly that we need more women in this discussion. we're still sitting at 20% of congress. we have a long way to go. host: caller in richmond, democrats line. caller: i was wondering how we will ever get equal pay when states like virginia have the right to work law and they can fire you for any reason. and the company i work for, if you discuss what you make to another employee, you can get fired. guest: it is about laws. laws are made by elected officials. who is representing us at the state legislature and in congress matters. we can overturn right to work laws. and we can pass it will pay laws. we need the right people to s

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